Technical analysis of USD/JPY for July 08, 2014 Trend News

Overview:

USD/JPY is expected to trade in lower range. It is undermined by the unwinding of JPY-funded carry trades amid increased risk aversion (VIX fear gauge rose 9.79% to 11.33, S&P 500 closed 0.39% lower at 1,977.65 overnight) as U.S. stocks--after last week's push to record highs retreated ahead of the start of the U.S. second-quarter earnings season (after Wall Street's close on Tuesday), while weaker-than-expected industrial data from Germany dented sentiment. USD/JPY is also weighed by the lower U.S. Treasury yields and Japan exporter sales. But USD sentiment is soothed by rise in Conference Board U.S. employment trends index to 119.62 in June from revised 119.03 in May (first reported as 118.58). USD/JPY losses are also tempered by the demand from Japan importers.

Technical comment:
Daily chart is mixed as MACD is bullish, five-day moving average is above 15-day MA and is advancing, but stochastics is turning bearish.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 101.35. A breach of this target will move the pair further downwards to 101.20. The pivot point stands at 101.80. In case the price moves in the opposite direction and bounces back from the support level, and then it moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 102 and the second target at 102.25.

Resistance levels:

102

102.25

102.50

Support levels:

101.35

101.20

101

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Technical analysis of NZD/USD for July 08, 2014 Trend News

Overview:

NZD/USD is expected to trade with the bullish bias. Kiwi sentiment is dented by the NZIER New Zealand quarterly survey of business opinion showing a drop in business confidence to +33% in 2Q from +51% in 1Q. NZD/USD is also weighed by the Kiwi sales on buoyant AUD/NZD cross and Kiwi sales on soft NZD/JPY cross amid increased investor risk aversion. But NZD/USD losses are tempered by the hawkish Reserve Bank of New Zealand's monetary policy stance and NZD-USD interest differential. The Daily chart is negative-biased as stochastics is falling from overbought, MACD histogram bars are turning negative.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8835 and the second target at 0.8835. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8710. A breach of this target would push the pair further downwards and one may expect the second target at 0.8680. The pivot point is at 0.8735.

Resistance levels:

0.8835

0.8860

0.8880

Support levels:

0.8710

0.8680

0.8650

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Technical analysis of GBPJPY for July 08, 2014 Trend News

Overview:

GBP/JPY is expected to trade in a lower range. It is undermined by the increased investor risk aversion and Japanese export sales. But GBP/JPY losses are tempered by the demand from Japanese importers. The daily chart is mixed as MACD is bullish, but stochastics is falling from the overbought zone.

Trading recommendation:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 173.35. A breach of this target will move the pair further downwards to 172.85. The pivot point stands at 174.55. In case the price moves in the opposite direction and bounces back from the support level, and then it moves above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 175.15 and the second target at 175.40.

Resistance levels:

175.15

175.40

175.85



Support levels:
173.35

172.85

172.45

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Daily analysis of GBP/JPY for July 08, 2014 Trend News

In H4 chart, the price closed below the support level of 174.75 which gave a new opportunity for more bearish signals today. As shown, the price has already broken the Support area and now is approaching the support level of 173.50. Closing below this level again may give us more sell signals till the price tests the support level of 172.75. So, we can consider our first target a few pips above this support level, then 172.30 as the second level. But first, we should wait for breaking the Support level of 173.50 and closing 4H below it, before making a decision. But the price's closing above the support level cancels the bearish scenario.

Resistance and support levels: R3 (175.30), R2 (174.75), R1 (174.00), S1 (173.50), S2 (172.75), S3 (172.30).

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Daily analysis of Silver for July 08, 2014 Trend News

Overview

From the today's H4 chart, silver is still stabilizing above the Support level of 20.90 and could not break it. Currently, it is bouncing from that level towards the Resistance level of 21.20. So, we still suggest waiting for closing above the Resistance level in case of bouncing from the Support level of 20.90. It will give us a new opportunity for more buy signals with the first target few pips below the Resistance level of 21.50. Then, after breaking this Resistance level silver would open the way towards the Resistance level of 21.75, which means more bullish signals. However, as long as the metal is trading below the Resistance level of 21.20, this cancels the bullish scenario.

Resistance and support levels: R3 (21.75), R2 (21.50), R1 (21.20), S1 (20.90), S2 (20.50), S1(20.20).

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EUR/NZD analysis for July 08, 2014 Trend News

Overview:

Since our previous analysis, the EUR/NZD pair has been trading downwards. As we expected, the price tested the level of 1.5433 in a volume above average, according to the 4H timeframe. According to the previous price movement, we can observe strong supply on ultra high volume, according to the 1H timeframe, which is a sign that buying looks risky. I have placed Fibonacci expansion levels to find second down station and I got second down station around the price of 1.5420 (Fibonacci expansion 100%). Be careful with buying and watch for potential selling opportunities. Third down station (short-term) is still at the price of 1.5335 (Fibonacci expansion 161.8%).

Daily pivot Fibonacci points:

Resistance levels:

R1: 1.5570

R2: 1.5587

R3: 1.5615

Support levels:

S1: 1.5513

S2: 1.5496

S3: 1.5467

Trading recommendation: Be careful with buying the EUR/NZD pair and watch for selling opportunities after retracement.

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Gold analysis for July 08, 2014 Trend News

Overview:

Since our last analysis, gold has been trading sideways. We are facing a quiet day and very flat Gold around the price of 1,322.00. According to the daily timeframe, we can observe very weak supply with a volume below average, which is a sign that selling loosing power. Buying Gold still looks unsafe. So, my advice is to watch for larger bearish correction before you place your buying positions. I have placed Fibonacci retracement levels and I got Fibonacci retracement 61.8% around the price of 1,305.00. Be careful with buying and watch for potential selling opportunities. Any larger supply on volume above the average may confirm further bearish movement. Major resistance is around the price of 1,333.00.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,320.60

R2: 1,322.86

R3: 1,326.53

Support levels:

S1: 1,313.26

S2: 1,311.00

S3: 1,307.33

Trading recommendation: Be careful with buying since we may see more downward movement.

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Technical analysis of Gold for July 08, 2014 Trend News

Technical outlook and chart setups:

1. Gold is expected to reverse from around $1,328.00 levels and continue correcting till around $1,286.00 levels as seen here. The metal could continue its rally from lower levels, as depicted here. Recommendations are to remain short for now, risk remains around $1,335.00/40.00.

2. Support is seen at $1,260.00, followed by $1,240.00/30 and lower while resistance is seen at $1,332.00, followed by $1,350.00/60.00 and higher respectively.

3. The structure indicates that currently Gold is to be bought on dips.

Trading recommendations:

1. Aggressive setup is to remain short, stop at $1,340.00, target $1,285.00

2. Conservative setup is to buy lower from $1,285.00.

Good luck!

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Technical analysis of EUR/JPY for July 08, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair is seen to be steadily drifting lower after reversing from fibonacci 0.618 resistance levels around 139.20, earlier. A break below 137.80 would accelerate further downside and the pair is expected to move towards 136.00 and lower.

2. Support is seen at 137.70, followed by 136.00, 134.00 and lower, while resistance is seen at 140.00, followed by 141.00, 142.50/143.50 and higher up respectively.

3. The structure indicates that EUR/JPY needs to breakout drifting lower further. A bullish bounce here could rally through 140.00 levels.

Trading recommendations:

Remain short, move stop to break even levels, target remains open.

Good luck!

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Technical analysis of USD/CAD for July 8, 2014 Trend News

Overview :

• The USD/CAD pair is going to call for a sideways market this week because the price will probably be trapped between the level of 1.0730 and the 1.0600 level in order to form a range of 130 pips. The support is set at the level of 1.0603. Therefore, the bulls are going to buy above the level of 1.0603 with a first target of 1.0680, it might resume to 1.0730. It should be also noted that a double top is going to set at the price of 1.0750, for that a stop loss should never exceed your maximum exposure amounts. Hence, set stop loss below 1.0570.


• On the other hand, the resistance is set at the level of 1.0730. So, the trend will call for a bearish market at the level of 1.0735 since there is a minor bearish channel. Thus, sell at 1.0735 with a target of the 1.06150 level.

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Technical analysis of GBP/CHF for July 08, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be stalling at 1.5350/60 levels as seen here and looks to have produced a bearish evening star candlestick signal. Recommendations are to initiate short positions, risk remains at 1.5400/10.

2. Support is seen at 1.5150/40, followed by 1.4950, 1.4780 and lower while resistance is at 1.5350/60 respectively.

3. The structure indicates that GBP/CHF may be topping around the current levels in favor of the downside trend.

Trading recommendations:

Initiate short positions stop at 1.5400/10, target is open.

Good luck!

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Technical analysis of USD/CHF for July 8, 2014 Trend News

Trading recommendations :

• According to the previous events, the price of the USD/CHF pair has still been trapped between 0.8863 and 0.9006. The resistance has already set at the level of 0.9006 and the support stands at the level of 0.8863. Hence, we expect a range of 143 pips this week. Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as following: USD is in uptrend and CHF is in downtrend. Therefore, it will be of the insight to sell in this area (0.9006) with the first target at 0.8950 in order to try to break the weekly pivot point. Then, the price will be able to continue in downtrend towards 0.8863 (at the level of 0.8863, a double bottom is going to be formed in H4 chart). On the other hand, the stop losses should be placed above 0.9053.

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#USDX Technical analysis for July 8, 2014 Trend News

The Dollar index is making a bullish flag pattern. The sideways consolidation after the sharp rise from our reversal level of 79.75 is the flag. This is also shown in the chart below.

The Dollar index is above the red downward sloping trend line resistance that was broken and above the Ichimoku cloud. Support is at 80.20 and resistance at 80.30-80.35. A break above resistance could push the Dollar index towards 80.50-80.70. The trend has reversed at 79.75 as we expected. This could turn out to be a longer-term price reversal. It is important for bulls to hold the index above 79.90.

The bounce off 79.75 and the Ichimoku cloud is unfolding as expected. Now, bulls need to break above 80.60 resistance (61.8% Fibonacci retracement of the decline from 81 to 79.75). I remain bullish targeting at 80.60 for the short term.

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Gold Technical analysis for July 8, 2014 Trend News

The Gold price challenged its support levels yesterday as shown in the chart below. However support at $1,308 was not broken and the price bounced back up towards $1,320. Resistance is at $1,334 and if broken we should expect price to move towards $1,350-60.

Breaking below $1,308 will bring the Gold price towards $1,290 which is the last line of defense for bulls. Breaking below $1,290 will increase the chances that wave E from $1,240 is complete and a new downward move has started.

The Gold price in the daily chart shows that we are in a trendless sideways trading range. Strong daily resistance is found at $1,334 and $1,350. Daily support is found at $1,308 and $1,280. I remain longer-term bearish as I believe we are close in completing the wave 4 triangle and a new downward move towards $1,000 will soon start. This scenario is canceled if we break above $1,391.

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Technical analysis of USD/CAD for July 8, 2014 Trend News

General overview for 08/07/2014 10:00 CET

The market has chosen one of the possible corrective structures. Now, it looks like this cycle is completed if the level of 1.0678 is clearly broken. Otherwise, there is still a possibility of a little more extended wave (c) blue to the upside, with a target level in the area of the previous wave (iv) green of a lesser degree. When this structure is completed, the downside wave development should resume by entering the bearish zone.

Support/Resistance:

1.0766 - WR3

1.0750 - Technical Resistance

1.0731 - WR2

1.0690 - WR1

1.0678 - Intraday Support

1.0654 - Weekly Pivot

1.0614 - WS1

1.0578 - WS2

Trading recommendations:

Because one of the possible corrective structures has been completed, daytraders might start to open short positions from the current price levels with SL above the level of 1.0696 and TP at the level of 1.0652 with a possible downward extension.

Any other traders who does not feel comfortable trading ranges should refrain from trading until the corrective cycle is completed.

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Technical analysis of EUR/JPY for July 8, 2014 Trend News

General overview for 08/07/2014 09:30 CET

The top for a wave 2 green at the level of 139.27 has been confirmed by the market when it broke the high of the wave 1 purple at the level of 138.48. The red trendline has been tested as well and a failure at the level of 138.70 is helping the bearish case. Currently, the intraday resistance at the level of 138.62 is the key intraday level of bears as the Elliott wave count suggest, that some upward move might happen the in internal corrective cycle. Then the downside wave progression should resume and lower price levels are anticipated.

Support/Resistance:

139.88 - WR2

139.32 - WR1

138.43 - 61%Fibo

138.62 - Intraday Resistance

138.73 - Weekly Pivot

138.14 - WS1

137.69 - Technical Support

137.54 - WS2

Trading recommendations:

The swing traders with active sell orders opened last week should still be kept open due to the lower price levels anticipation.

Daytraders as well should keep the short orders opened yesterday and wait for the TP at the level of 138.14 and possibly 137.69 to be hit.

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Elliott wave analysis of EUR/NZD for July 8, 2014 Trend News

Today's Support and Resistance Levels:

R3: 1.5610

R2: 1.5567

R1: 1.5528

Current Spot: 1.5497

S1: 1.5478

S2: 1.5448

S3: 1.5403

Technical Summary:

The failure to break above minor resistance at 1.5610 is disappointing, but it will still take a break below support at 1.5478 to invalidate our bullish count. Even if our bullish count should be invalidated the downside potential should be limited. That said, the we still expect support at 1.5478 to protect the downside for a break above minor resistance at 1.5528 and more importantly a break above 1.5610, that will be the first strong indication that wave 2 is over and a higher wave is developing.

Trading Recommendation:

We are long EUR from 1.5585 with stop placed at 1.5470. If you are not long EUR yet, Then buy a break above 1.5528 with the same stop at 1.5470.

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Elliott wave analysis of EUR/JPY for July 8, 2014 Trend News

Today's Support and Resistance Levels:

R3: 138.83

R2: 138.63

R1: 138.53

Current Spot: 138.48

S1: 138.37

S2: 138.10

S3: 137.70

Technical Summary:

The decline from 139.28 is clearly impulsive. Now, we should see resistance at 138.83 protecting the upside for the next decline lower to 137.70 and 136.22 as the next targets. In the longer term, we are still looking for an even deeper correction from 145.69 towards at least 133.53, but we need some stronger evidence that wave iii lower has started to accelerate to the downside.

Trading Recommendation:

We are short EUR from 138.95 and will move stop lower to 139.30. If you are not yet short EUR, then sell near 138.83 or upon a break below 138.37 with the same stop at 139.30.

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Weekly forecast of AUD/USD for July 08-11, 2014 Trend News

AUD/USD

The pair was rejected at 200 Weeks Ema in October 2013 at 0.9757 levels. Last week, it was rejected again at 200 weeks Ema at 0.9504 levels. The medium-term trend will change if the pair manages to breach the resistance at 0.9545 levels on closing basis. On the down side, it has support at 0.9320 and 0.9274 breaks below this we can see another round of selling for 0.9188 levels.

For the week July 08-11, the trading pattern is framed between 0.94-0.9320. If it breaches the upside, we can see some pull back up to 0.9443 and in the lower side, if it breaks the 0.9320 we can see 0.9290 and 0.9260 levels.

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Monthly forecast of EUR/JPY for July 08, 2014 Trend News

EUR/JPY

Over view-

The pair has been consolidating at 50 weeks Sma just holding above that from last five weeks, but making higher highs for three weeks. The nearest strong support existed at 137.68 level breaks below this, 136.21 is an open target on the downside. We can see the medium-term weakness below 136.21 for a downside target at 134.30 and 131.20 levels. On the upside, it has strong resistance between 139.25-140.16 levels.

Monthly basis - The pair is trading below the short-term and medium-term moving averages. It is unable to sustain above the 20 days Sma at 138.55 levels. The pair pulled back from the 137.68 levels , but rejected at 200 days Sma. It favors to sell on the rally strategy until it breaches the 139.30 levels. The monthly trading pattern is framed between 137.70-139.30. Bulls must close above 139.30 as bears are expected to regain their strength , they must chop the 137.70 levels for an another steep fall up to 134 and 131 levels.

Monthly key support levels 137.70

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Technical analysis of USD/JPY for July 08, 2014 Trend News

In Asia, Japan will release the Current Account, Bank Lending y/y, Economy Watchers Sentiment. The US will release some economic data such as NFIB Small Business Index, JOLTS Job Openings. So there is a big probability the USD/JPY pair will move with low volatility during the day.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 102.29.

Resistance. 2: 102.09.

Resistance. 1: 101.89.

Support. 1: 101.64.

Support. 2: 101.44.

Support. 3: 101.24. DESCRIPTION:

Please, pay attention to the levels of support 3 (101.24) and resistance 3 (102.29). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Intraday analysis of EUR/CHF for July 08, 2014 Trend News

EUR/CHF

The pair has been in the down trend from 1.2236 levels. The pair is trading below the short and near term moving averages. On previous week, the pair exactly touched the 20 weeks Sma and changed its direction again towards lower levels. This week the pair opened its trading in a bearish note opened higher at 1.2157. We recommend to go long only above 1.2157 as strong up move will intact only above 1. 2165 levels for an upside target 1.2187 levels (50 days Sma). On the down side, until the pair breaks 1.2157 and 1.2165, we can see some lower levels at 1.2150, 1.2145, 1.2139 and 1.2130. The major weakness will exist below 1.2132 for 1.2120 and 1.21 levels.

In a nutshell, weakness below 1.2150 will drive the pair towards the nearest lower levels and even more lower.

Intraday- cmp 1.2156

The pair is trading above the hourly moving averages. The trading pattern is framed between 1.2150-1.2165. Traders can buy above 1.2158 or safe traders can only above 1.2165 for 1.2171, 1.2178 and 1.2191 levels. On the down side, the pair has support at 1.2150 a break below this, we can some selling pressure up to 1.2140, 1.2130 and 1.21 levels. Bears may take the pair towards 1.2020 levels, if it breaks below 1.21 levels.

Sell only below 1.2150, buy above 1.2165

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Technical analysis of EUR/USD for July 08, 2014 Trend News

When the European market opens, some economic news will be released such as German Trade Balance, French Gov Budget Balance, French Trade Balance. The US will release the economic data too such as the NFIB Small Business Index and JOLTS Job Openings. So, amid the reports, EUR/USD will move with low volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3672.

Strong Resistance:1.3664.

Original Resistance: 1.3651.

Inner Sell Area: 1.3638.

Target Inner Area: 1.3606.

Inner Buy Area: 1.3574.

Original Support: 1.3561.

Strong Support: 1.3548.

Breakout SELL Level: 1.3540. DESCRIPTION:

Today EUR/USD has support and resistance at 1.3561 and 1.3651. The rate is accompanied by strong support at 1.3548 and by 1.3664 as strong resistance.

If EUR/USD breaks out and closes below the 1.3540 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3672 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3574 and at 1.3638, a SELL position. In this case both targets should be placed at the level of 1.3606. Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Weekly forecast and an intraday analysis of EUR/USD for July 08-11, 2014 Trend News

EUR/USD

Weekly forecast-The pair has been in the uptrend from 1.35 levels. The pair faced a strong resistance level at 1.37 levels. The bulls are back on track only above the 1.37 level. The trading pattern is framed between 1.3574-1.37 levels for the week July 07-11. If the pair managed to breach the upside monthly resistance we can see some more upside up to 1.3720 (20 weeks Sma) and 1.3775 levels. If the pair chops the support 1.3574, it can drift up to 1.35, 1.3487, 1.3477,1.3420. We can see a huge spike only above 1.37 levels, so traders please keep an eye on 1.37 monthly resistance.

Intraday- cmp 1.3608

The pair opened its session with a mild bullish note opened lower at 1.3604 holding the support at 20 Days Sma. Once it breaks below this, we can see some weakness up to 1.3575 levels. The pair was unable to breach the 21 hr Sma at 1.3610. On the upside, traders can buy above 1.3610 for an intraday targets 1.3620, 1.3635, and 1.3665 levels. Fresh buy only above 1.37 levels. We can find support at 1.36 (12 hr lows) break below this 1.3590, 1.3585 and 1.3575 is the nearest supprots.

Intraday- Buy above 1.3620 , safe traders buy above 1.3635

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Daily analysis of major pairs for July 8, 2014 Trend News

EUR/USD: The signal on this pair is bearish, but it can be seen that the price is trying to bounce upwards. This is a normal rally in the context of a downtrend, after which the price should dive again, possibly reaching the support line at 1.3550. Meanwhile, this rally should not take the price above the resistance line at 1.3650, so that current bearish signal would be valid.

USD/CHF: The USD/CHF has gone downwards a little after testing the resistance level at 0.8950. The downward movement should be reflected at the support level of 0.8900, so that the bullish momentum would continue to be valid. The price could go upwards again and retest the resistance level at 0.8950. It may break it to the upside, but it is very unlikely that it would go above the great resistance level at 0.9000.

GBP/USD: The GBP/USD pair still shows the determination to go further upwards. It would re-test the distribution territory at 1.7150, and possibly break it to the upside. The Bullish Confirmation Pattern shows that the price has a very high possibility of going upwards. It may reach the distribution territory at 1.7200.

USD/JPY: After forming a bullish signal, this currency trading instrument has experienced a bearish correction which is strong enough to challenge the existing bullish signal. A movement below the demand level at 101.50 could mean the end of the bullish signal.

EUR/JPY: This market is not yet attractive for swing trading (though it looks great for intraday traders and scalpers). For swing trading, one may wait until the current bearish bias is confirmed or the previous bullish bias is restored.

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Daily analysis of USDX for July 08, 2014 Trend News

Daily chart: The USDX has not had major changes below the 200 SMA. Now, the USDX is trying to consolidate above this level. If successful, it is expected to rise to the resistance level of 80.62. However, the bearish outlook remains alive while the USDX is below the 200 SMA. The MACD indicator is moving into the positive territory.

H4 chart: The USDX has found resistance at the 80.34 level. Now, the USDX is trying to make a breakout at the support level of 80.09. If successful, it is expected to fall to the level of 79.93, which would be a bearish consolidation, given that the USDX is below the 200 SMA. The MACD indicator is in the negative territory.

H1 chart: The USDX is approaching the support level of 80.15 where the 200 SMA is located, which is likely to make a bullish rebound at that level and up to the resistance level of 80.35. On the other hand, if the USDX does make a breakout at the support level, it is expected to fall to the level of 79.88. The MACD indicator is in the negative territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 80.15, take profit is at 79.88, and stop loss is at 80.42.

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